Bill
Bill > A01114
NY A01114
Prohibits the New York Department of State from issuing a certificate of dissolution and filing a judgment or final order of dissolution for the pension fund for employees of the former St. Clare's Hospital in the city of Schenectady, county of Schenectady, until an investigation and/or audit by the New York State Department of Health, the New York State Attorney General or the New York State Comptroller has been conducted to ascertain whether there was any impropriety in the handling and manage
summary
Introduced
01/09/2025
01/09/2025
In Committee
01/09/2025
01/09/2025
Crossed Over
Passed
Dead
Introduced Session
2025-2026 General Assembly
Bill Summary
AN ACT prohibiting the New York Department of State from issuing a certificate of dissolution and filing a judgment or final order of dissolution for the pension fund for employees of the former St. Clare's Hospital in the city of Schenectady, county of Schenectady, until an investigation and/or audit by the New York State Department of Health, the New York State Attorney General or the New York State Comptroller has been conducted to ascertain whether there was any impropriety in the handling and management of funds in such pension plan
AI Summary
This bill prevents the New York Department of State from issuing a certificate of dissolution or filing a final judgment of dissolution for the pension fund of the former St. Clare's Hospital in Schenectady until a comprehensive investigation or audit has been conducted. Specifically, the bill requires that the New York State Department of Health, the New York State Attorney General, or the New York State Comptroller first complete an investigation to determine if there were any improprieties in how the pension fund's funds were handled and managed. The bill mandates a waiting period of sixty days after the conclusion of such an investigation before any dissolution proceedings can move forward. By doing so, the legislation aims to protect the interests of the former hospital employees and ensure transparency in the management of their pension fund. The bill will take effect immediately upon passage, providing immediate protection for the pension fund's dissolution process.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
referred to governmental operations (on 01/09/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2025/A1114 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A01114&term=2025&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A01114 |
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